Russia may set a quota allowing sugar imports at a reduced tariff as a way of stabilizing domestic prices, the country’s Agriculture Ministry said Wednesday in a statement.
- The ministry plans to consider the proposal, and other measures, after the harvest for sugar beets has been completed
- NOTE: Sugar beets are used to make white sugar; farmers had collected 76% of beets from farmed area by Oct. 20, ministry data show
- Analysts expect Russia to produce 5m-5.5m tons of white sugar this year, consumption is about 5.9m tons a year
- Sugar stockpiles, which were 1.3m tons as of Oct. 1, ...
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